RZD’s total revenues for the first six months of 2016 increased by 8.1% and amounted to 1,040 billion rubles (14.2 billion euros).
Cargo and infrastructure access revenues grew by 3.6 % up to 648 billion rubles (8.8 billion euros) mainly driven by the increase of cargo turnover by 1.2% and average yield rate growth. An average revenue rate was supported by freight tariff indexation, but at the same time held back by increasing share of low-yield cargos in the total turnover and higher volumes on less profitable transportation routes.
Passenger revenues increased by 10% up to 92 billion rubles (1.2 billion euros) due to the volume gain of passenger traffic and tariff indexation in regulated segment of passenger turnover.
Revenues in the logistic segment increased by 28.4% up to 190 billion rubles (2.6 billion euros) due to higher revenues of GEFCO international sales and due to ruble devaluation comparing to the same period in 2015.
RZD’s operating costs increased by 6,3% over the reporting period up to 980 billion rubles (13.4 billion euros) mostly due to the growth in purchased freight forwarding and logistics services from subcontractors attributable to significant growth of logistics operations on international markets, which are fully compensated by revenues in logistics segment.
The Group’s net profit amounted to 45 billion rubles (617 million euros) over the reporting period, determined by stronger operational performance and an improved result of other income and expenses.
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